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Rubbing it in: Import penetration and declines in major markets have caused revenue to fall

The Synthetic Resin and Synthetic Rubber Manufacturing industry is a key part of Australia's chemical and plastic manufacturing sectors. Industry products are used as key inputs in many downstream manufacturing industries. However, declines across the Manufacturing division and rising import penetration have negatively affected the industry over the past five years. Industry revenue is expected to fall at an annualised 3.5% over the five years through 2018-19, to total $2.1 billion.Synthetic resin and rubber products are required to produce a variety of products used in various end markets including packaging and construction firms. The industry has two major players, and many small players producing specialised or niche products...read more.

Industry Report - Starting a New Business Chapter

Industry barriers to entry are moderate and have increased over the past five years. Start-up costs can be a major barrier for new entrants, with the industry being moderately capital intensive. Constructing production facilities that are competitive with existing businesses can be expensive, acting as a deterrent to new firms. In addition, petrochemical plants tend to be highly integrated and require special technical equipment, machinery and expertise. Profit margins in the industry are relatively low, meaning that economies of scale and high capacity utilisation are generally a necessity to operate profitably.The declining nature of the industry, combined with its limited size, poses another significant entry barrier for new companies. It ...purchase to read more.

IBISWorld has determined the most important Key Success Factors for the Synthetic Resin and Synthetic Rubber Manufacturing are:

Availability of resource

Optimum capacity utilisation

Concentration on core business

IBISWorld analysts also discuss how external factors such as Demand from polymer product manufacturing and Domestic price of plastic and rubber products in the Synthetic Resin and Synthetic Rubber Manufacturing industry impact industry performance..

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“The industry analysis available in IBISWorld has been a staple in our information resources for the past several years. The consistent reporting, from industry to industry, helps with our ability to compare industry performance and outlooks.”

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“We have utilized IBISWorld industry reports for several areas within our testing at [Client name withheld for privacy]. Whether it be the testing of goodwill/intangible revenue projections or testing the actual revenues for the current year, we have found IBISWorld to be of great use.”

“IBISWorld is a valuable resource for assisting us in current market trends in various client environments.”

“I like providing ‘best of’ professional service and your reports certainly help me do that.”

“IBISWorld grants access to abundant information on industries which we have credit exposure in allowing for a quick and easy source for trends, key issues, risks, opportunities, competitive environment and overviews, all of which is updated frequently and presented in consistent formats.”

- BB&T

“Synovus... has incorporated the use of third-party trade and market data to gain insight into the performance and cash needs of its customers. For instance, it studies market reports from more than 700 industries by research company IBISWorld to better determine loan opportunities.”

- Synovus Financial Corporation

“Just wanted to let you know that our students really love IBISWorld. I cannot tell you how many times it was the only place to pull up data on small industries and the Risk Rating is wonderful.”

- Rice University

“Since TradingPartners started working with IBISWorld, we have been able to build upon our category knowledge providing a deeper dive into all the interrelated factors that affect each market, especially regarding global impacts to the US market.”

- TradingPartners

“IBISWorld is an extremely powerful resource for audit planning from a risk perspective (SAS 104-111), client closing interviews to demonstrate industry knowledge as a trusted advisor, and client prospecting for understanding the industry to help win new accounts.”

- Rothstein Kass

“The industry analysis available in IBISWorld has been a staple in our information resources for the past several years. The consistent reporting, from industry to industry, helps with our ability to compare industry performance and outlooks.”

- Applied Marketing

“We have utilized IBISWorld industry reports for several areas within our testing at [Client name withheld for privacy]. Whether it be the testing of goodwill/intangible revenue projections or testing the actual revenues for the current year, we have found IBISWorld to be of great use.”

- Deloitte

“IBISWorld is a valuable resource for assisting us in current market trends in various client environments.”

- Marshall & Stevens

“I like providing ‘best of’ professional service and your reports certainly help me do that.”

IBISWorld’s Synthetic Resin and Synthetic Rubber Manufacturing market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

An assessment of the competitive landscape and market shares for major companies

And of course, much more

IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Synthetic Resin and Synthetic Rubber Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.